Technology is phenomenal. Since the dawn of human civilization and even before pre-humans discovered fire, technology has been constantly evolving with us, working most of the times for us. How far technology has come since then is a question that has no answer. Anyway the newest kid on the block is Blockchain- a technology which is proposed to bring about a remarkable change in how we, humans live. Blockchain was initially used only for cryptocurrency transactions.

As the number of services that keep shifting from manual to digital just keeps increasing with no bounds it becomes increasingly difficult to identify each other digitally. Facebook is jammed with fake accounts so on and so forth the list goes on… Some forms of online IDV technologies existed in the near past but none of them managed to solve. They haven’t been able to produce a system where the data is indisputable and fixed but why fear when you’ve got THEKEY with you?

THEKEY Project is an all new IDV (Identification Verification) solution to this massive challenge based on BDMI technology. Now you might wonder what BDMI is. I will just reveal you the full form for the time being but later on I will explain you the whole concept behind this thing. Oh yes almost forgot… BDMI stands for Blockchain based Dynamic Multi-Dimension Identification technology- pretty daunting isn’t it?

Blockchain based Dynamic Multi-Dimension Identification technology is intended to be the most reliable method of transferring people to the digital world. As the name suggests BDMI actively syncs the Dynamic Multi-Dimension Identification (DMI) technology which has been in the business for quite a long time, with the all new blockchain technology.

THEKEY Project is not quite new. It has already started working… It has 23 copyrights and 15 patents recognized by SIPO. So THEKEY all new IDV solution has just begun working by enabling people to get their retirement pension payment and health insurance payments on time with the mobile. THEKEY’s database is said to contain up to personal identity data of more than 130 million people and is secure than anywhere on Earth.

Here is THEKEY Project explained further more…

Though the challenges faced by the IDV solutions were explained in a nutshell the article would not be complete without mentioning them in much more detail.

A handful of the challenges are as follows

Data must be reliable and accurate and the data must not be uploaded merely by the user which can give some window of opportunity for theft and fraud the data should always be uploaded under the thorough inspection of governments by the governments themselves.

Data must be validate i.e.… the data must be checked against the data from the same user to confirm that there are no two springs where the data flows from.

Data must be updated in continuously in real time i.e. as the system runs the data it receives must be replaced with the old data to keep the system updated and it must be simple to process and meet certain standards.

All but the most important thing a person has his/her privacy, which is almost always lost in such IDV systems must thoroughly maintained. The data must be sheltered somewhere safe and secure where it won’t leak out.

If such IDV systems fail to meet these requirements it will result in loss of resources in p2p transfer systems and the degrading of the systems reputation and legal image. It can always result in loss of personal data by somebody stealing, the data which was once considered to be confidential…

THEKEY Project is undoubtedly the best solution known to mankind

How does THEKEY Project Work?

A smart contract is a piece of software that stores rules for negotiating the terms of a contract, automatically verifies the contract and execute the agreed terms. Now a contract is a request given to the central database by the users which is stored in the central database but this method isn’t so reliable that’s why almost all blockchains are decentralized which means that each user has a copy of each contract making it a smart contract.

THEKEY’s smart contract scheme will get the use of NEO smart contract and be developed on the basis of the structure of DNA.

As I pre stated THEKEY Project is based on BDMI technology. BDMI in its simplest form is a mish mash of DMI and Blockchain technology.

BDMI is centered around distinctive data which is one of its kind. The data stored in BDMI which is used in turn for IDV is authenticated by government authorities. Moreover, all the data is checked against other data to ensure reliability and accuracy- crosschecking. Furthermore, the data is always updated in real time and it’s safer than ever.

So now let’s get into how the system really works…

The extraction of the data is based on ETL technology, which allows data to be dig out from various data sources and the format to be changes and then sent to a main site where all the processing is done. Now although all blockchains are decentralized this thing here is quite exceptional. This central site has some form of superiority over others. Using this manner ensures that cost of gathering, handling, analyzing and verifying are kept to a minimum. Now the data is available for the whole system to depend on. The data is then standardized so that it meets the necessary requirements from the government.

Short Details

THEKEY Project, a world leading solution provider in IDV industry, is here in place to leverage innovations in blockchain and smart contract technologies to develop its second-generation IDV solution. The second-generation IDV solution will be realized by BDMI technology. BDMI stands for Blockchain based Dynamic Multi-Dimension Identification technology, which aims to set up a powerful and cost-efficient identity verification tool for internet. The ultimate objective of BDMI is to generate undeniable and unalterable IDV results.

The data of BDMI used, including biometrics data, for IDV are all validated in advance by the relevant government authorities.

The data of BDMI used for IDV are comprehensive enough so that it can meet the different requirements of various clients.

To ensure the reliability of BDMI, cross-check is always carried out during IDV between the government validated data and behavior/scene data of the same user.

To ensure solidity of BDMI, BDMI always uses updated data when an IDV is executed, to capture the latest changes, if any.

Once an IDV is completed the result will be properly documented for audit so that personal credit of the user can be evaluated and calculated.

BLOG POSTS/ NEWS/ MEDIA:

PARTNERSHIPS

With the commercialization of DMI, more and more world leading companies have already established partnership relations with us, some of which are shown hereunder.

ACHIEVEMENTS

We’ ve got these

THEKEY’s first-generation IDV solution is currently in use for mobile social insurance pay in two pilot cities, which people can receive their payment for their pension, or healthcare insurance reimbursement. The IDV solution is currently being deployed in another 41 cities, covering more than 130 million people.

Personal identity data of 210 million people in 66 cities, authenticated by the relevant government authorities, are connected on a real-time basis. This constitutes a solid foundation of IDV.

Commercial contracts signed with world-leading firms and the business model of our IDV products in this White Paper has already been partly proven.

Six relevant national laboratories have been set up together with government agencies, banks, insurance companies and one university.

BOUNTY DETAILS

🔥 TOKEN DETAILS

Token: TKY

Total tokens supply: 10,000,000,000 TKY (10 billion)

Tokens for sale (pre-ICO & ICO): 5,100,000,000 TKY (5.1 billion)

Softcap: 6,600,000 USD

Hardcap: 22,000,000 USD

1 BTC = 1,000,000 TKY

TKY Token Allocation The total supply of TKY is 10 billion units. The allocation plan for total supply is set as below: 8% will go to Project team and advisors 20% will be reserved to fuel future innovation and ecosystem health. THEKEY Administration Committee will decide the sale of such part depending on market condition and the project and Ecosystem development 21% will be reserved as a reward mechanism to incentivize the development of community 51% will be allocated to the token distribution contributors. Unsold TKY during the token distribution will be burned.

WALLETS

You can choose any type of NEO wallet to make the payment EXCEPT EXCHANGES,

which could also be used as the wallet address to receive TKY upon completion of ICO.

But please be noted after you receive TKY, you can only use the NEO official wallet NEO-GUI to check

TKYs you have received.

They will integrate more wallets developed by NEO community to be compatible with TKY.

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